secwatch.observer — SEC 8-K summary
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Issuer:     DUOS TECHNOLOGIES GROUP, INC. (DUOT)
CIK:        0001396536
Form:       8-K
Filed at:   2024-07-23T23:59:59+00:00
Accession:  0001079973-24-001091
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Duos Technologies subsidiary raises $2.2M in secured notes; issues 300,000 warrants at $3.00
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- Edge AI subsidiary issued $2.2M secured notes to two institutional investors; 10% interest, maturity Dec 31, 2025.
- Proceeds used solely to complete installation of previously-announced edge data centers.
- Warrants to purchase 300,000 shares of Duos common stock at $3.00 per share, 5-year term.
- Security includes first priority lien on edge data center equipment and revenues; also pledge of ATM offering proceeds.
- If notes not paid at maturity, interest rate rises to 18% and additional warrants of 75,000 per 30 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1396536/000107997324001091/0001079973-24-001091-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1396536/000107997324001091/duot_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-24-001091

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